Lynch relishes the crowd reaction to his company's new device. He claims the Nook Tablet will feature 11.5 hours of reading time and 9 hours of video playback. It also has a low glare screen and will be able to access WiFi at B&N stores and video hotspots.

Photos by Sara Tew, CNET

Lynch says the Nook Tablet will offer lots of games, magazines and apps.

Photos by Sara Tew, CNET

Of course Angry Birds will lead the list of Nook apps.

Photos by Sara Tew, CNET

For songs, Lynch says it will offer free cloud storage. If you don't use the cloud, the Nook tablet has 16GB of memory and expandable SD card slot for an "extra 32GB."

Photos by Sara Tew, CNET

Photos by Sara Tew, CNET

The Nook Tablet will allow you to record someone reading a book.

Photos by Sara Tew, CNET

Of course, Lynch compares the Nook Tablet to Amazon's new Kindle Fire. He says Nook Tablet's 1GB of RAM vs the Fire's 512MB is a "big difference." He also says Nook Tablet has 7 times more storage capacity...if you use the SD card.

Photos by Sara Tew, CNET

And the new Nook tablet will cost $249. That's $50 more than the Kindle Fire.

Photos by Sara Tew, CNET

B&N will not compete with Amazon's lowest-price $79 Kindle which delivers ads to offset the price drop.

Photos by Sara Tew, CNET

The original Nook has added more than 100 enhancements and has a new price tag of $199. It has new social features and an 8GB plus SD cart slot for expansion.

Photos by Sara Tew, CNET

Publicity photo of the new Nook Color.

Credit: B&N

In order to keep up with the Kindles, the Nook Simple Touch will cost $99 and feature a two month battery life.